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THE REGIONAL ECONOMIC BRIEFING AT THE FEDERAL RESERVE BANK OF NEW YORK SPEAKERS’ BIOGRAPHIES FEDERAL RESERVE BANK OF NEW YORK 33 LIBERTY STREET NEW YORK, NY 10045 WWW.NEWYORKFED.ORG FRIDAY, AUGUST 12, 2011 William C. Dudley President William C. Dudley became the 10th president and chief executive officer of the Federal Reserve Bank of New York on January 27, 2009. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation’s monetary policy. Mr. Dudley had been executive vice president of the Markets Group at the New York Fed, where he also managed the System Open Market Account for the FOMC. The Markets Group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks. Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm’s chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983. Mr. Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a bachelor’s degree from New College of Florida in 1974. Mr. Dudley serves as chairman of the Committee on Payment and Settlement Systems of the Bank for International Settlements. He is a member of the Board of the Directors of the Bank for International Settlements and the Board of Trustees of the Economic Club of New York. KRISHNA GUHA Executive Vice President Krishna Guha is an executive vice president of the Federal Reserve Bank of New York, head of the Communications Group and a member of the Bank’s management committee. Mr Guha is charged with developing the Bank’s communications strategy and deepening its engagement with its many key constituencies. In addition, Mr Guha takes part in the Bank’s deliberations on policy issues. The Communications Group he leads consists of five functions: Media Relations and Public Affairs, Web Communications, Internal Communication, Regional Affairs and Community Affairs. Prior to joining the Bank, Mr Guha had more than 15 years experience as a journalist, editorial writer and editor at the Financial Times – most recently as the FT’s US Economics Editor based in Washington DC. Mr Guha received his Masters degree from Sidney Sussex College, Cambridge University, and a mid-career Masters in Public Administration from the Kennedy School of Government, Harvard University. He is a former Fulbright Scholar, a C.V. Starr Scholar and has held a number of prominent fellowships internationally. He was awarded the Society of American Business Editors and Writers Best in Business Journalism Award and the New York State Society of Certified Public Accountants Excellence in Financial Journalism Award for his work on the recent financial crisis. ERICA GROSHEN Vice President Erica Groshen is a vice president in the Regional Affairs function of the Federal Reserve Bank of New York. Ms. Groshen's research focuses on the effects of recessions on labor markets, wage rigidity and dispersion and the role of employers in the labor market. She also edits the Bank's Liberty Street Economics Blog and Current Issues in Economics and Finance. Prior to her current role, she had led the Bank’s regional initiatives as the director of Regional Outreach. She has also served as assistant vice president, editor of the Bank’s Economic Policy Review, head of domestic research and head of international research. Before joining the Bank in 1994, Ms. Groshen was a visiting assistant professor of economics at Barnard College at Columbia University. She was also an economist at the Federal Reserve Bank of Cleveland. Ms. Groshen earned a Ph.D. in economics from Harvard University and a bachelor’s degree in economics and mathematics from University of Wisconsin-Madison. JAMES ORR Assistant Vice President James Orr is an Assistant Vice President and head of the Regional Analysis Function of the Research and Statistics Group at the Federal Reserve Bank of New York. He specializes in regional economics and his responsibilities include analyzing and forecasting economic trends in the New York-New Jersey region. He has co-authored articles on the construction of indexes of economic activity for the region, the price of land in the New York metropolitan area, and on the challenges facing the New York economy. He also co-authored two studies assessing the impact of the 9/11 attack on New York City. His experience includes an assignment to the New York City Office of the Deputy Mayor where he authored a report on foreign investment in the city. He holds a Ph.D. in Economics from the University of Pennsylvania and a B.S. in Business Administration from Drexel University. RICHARD DEITZ Regional Economics Officer Richard Deitz serves as Regional Economics Officer and senior economist in the Microeconomics and Regional Studies function of the Federal Reserve Bank of New York, and works in Buffalo, New York. Prior to joining the Federal Reserve, Mr. Deitz served as a professor of economics for several upstate New York colleges and universities, including the University of Buffalo, Canisius College, the Rochester Institute of Technology, Saint Lawrence University, and Binghamton University. Currently, Mr. Deitz serves on the Board of Economic Advisors for the New York State Division of the Budget and the New York State Assembly Ways and Means Committee. He also resides on the Board of Directors for the New York State Economics Association, where he served as president, and is past president of the Regional New York Center for Financial Training. Mr. Deitz has a Ph.D. in Economics from Binghamton University. JASON BRAM Senior Economist Jason Bram is a Senior Economist in the Federal Reserve Bank of New York's Microeconomic and Regional Studies Function. His research and analysis focuses on the U.S. economy, with a primary emphasis on the New York-New Jersey region and Puerto Rico. His recent research has focused cycles in New York City’s finance sector, the use of business surveys in gauging economic activity, and the relationship between house prices and rents. He has also published studies on manufacturing and other key sectors of the regional economy, analyzed commuting patterns, assessed the impact of the 9/11 terrorist attack on the New York City economy, conducted ongoing research on neighborhood development, and researched the role of consumer confidence in the U.S. economy. JAISON ABEL Economist Jaison Abel is a Senior Economist in the Regional Analysis Function of the Federal Reserve Bank of New York. He provides economic analysis of regional issues facing upstate New York. His research has examined the relationship between human capital and regional economic activity, the microfoundations of urban agglomeration economies, factors underlying firm location patterns, the economic effects of regulatory policy, and price measurement in the presence of technological change. Before joining the New York Fed, Mr. Abel was a Vice President at Analysis Group, Inc., a national economic consulting firm, and served as a research associate at the National Regulatory Research Institute. He has taught economics at The Ohio State University, Ohio Wesleyan University, and the University at Buffalo. Mr. Abel holds a Ph.D. in economics from The Ohio State University and a bachelor’s degree in economics from the State University of New York at Geneseo. JACK GUTT Assistant Vice President and Moderator Jack Gutt joined the Federal Reserve Bank of New York as a media relations and public affairs officer in September 2009. Mr. Gutt works closely with the AIG Monitoring team. Mr. Gutt has more than 14 years of experience counseling global companies, non-profit organizations and governments on crisis and issues management, corporate positioning, transactions, public affairs and media strategy. Prior to joining the New York Fed, Mr. Gutt spent the previous nine years in New York, where he served as managing director at several leading public relations and public affairs firms and was one of the founding principals of Vistance Group LLC. Mr. Gutt began his communications consulting career working for the Presidency of the Republic of Ecuador on its privatization and modernization program. After leaving this position, Mr. Gutt remained in the region for two years advising multinationals doing business in Latin America as well as several political candidates during three electoral cycles. In 1998, he moved to South Florida where he helped to establish an office of Hill & Knowlton, Inc. Mr. Gutt holds degrees in newspaper journalism and political science from Syracuse University. FOR MORE INFORMATION Visit the website of the Federal Reserve Bank of New York at www.newyorkfed.org or contact us: Jack Gutt, Assistant Vice President (212) 720-6142 jack.gutt@ny.frb.org Andrea Priest, Media Relations Oficer (212) 720-6139 andrea.priest@ny.frb.org Jonathan Freed, Media Relations Oficer (212) 720-6649 jonathan.freed@ny.frb.org Eric Pajonk, Media Relations Coordinator (212) 720-1735 eric.pajonk@ny.frb.org Krista Dente, Media Relations Assistant (212) 720-6149 krista.dente@ny.frb.org Matthew Ward, Media Relations Associate (212) 720-6885 Matthew.ward@ny.frb.org